Collegium Pharmaceutical price target lowered to $33 from $35 at Needham

Needham analyst Serge Belanger lowered his price target on Collegium Pharmaceutical to $33 after the company’s recent FY19 outlook for Xtampza and Nucynta revenues of $100M and $205M at the midpoint – below the Street consensus of $115M and $219M. The analyst notes that while the guidance led to a 20% decline in the the company’s share value, it served as a “needed expectation reset with realistic and potentially beatable 2019 targets.” Belanger also keeps his Buy rating on Collegium Pharmaceutical, stating that his next focus is on “the near-term growth inflection of Xtampza weekly Rxs” and als
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